All 70Trades clients have access to the global forex markets at any time they are open, which is from 22:00 GMT on Sunday night until 22:00 GMT on Friday night. Online FX and Commodities can be traded at all times during this period. CFDs, however, have their own operating hours, which depend on the location of the market:
- The US Market CFDs can be traded from 2:30 pm – 9:00 pm GMT, Monday to Friday.
- The European & British Market CFDs can be traded from 8:00 am – 4:30 pm GMT, Monday to Friday.
- The Asian Market CFDs can be traded from 0:00 am – 2.00 am GMT and 3:30 pm – 6:00 pm GMT, Monday to Friday.
There is a rollover fee at 0.022% of the overnight exposure of currencies, indices, ETF’s and commodities, 0.055% stocks and 0.50% on crypto.
Due to 70Trades’ policy of no slippage, spot orders can be executed at the price the client clicks/quotes, during the regular global forex market conditions.
During the volatile global forex market conditions, our clients can receive consistent ask (buy) and bid (sell) prices with fixed spreads. Spot orders can be executed at the price the trader has quoted.
Leverage at 70Trades:
- Foreign Exchange currency trading (Forex): 1:200
- Commodities trading: 1:200
- CFD on Indices: 1:100
- CFD on Shares: 1:10
- 5 Protected Positions: 1:20
In case of absence of any activity for a period of at least three (3) months, the Company reserves the right to apply a fee of US$ 500 thereafter, charged on a quarterly basis. If the Client account is funded by less than US$ 500 and has been inactive for a period of three (3) months, the Company reserves the right to charge a lower amount to cover administrative expenses and close down the account.
In case of absence of any trading activity for a period of at least forty five (45) days, the Company reserves the right to apply the credit-out rule and remove any trading credit that exists in the Client Account, provided that (i) no open positions and/or entry orders exist on the Client Account; (b) no positions were opened and/or closed within the last 45 days; and/or (c) no deposit transaction was made within the last 45 days.
It is noted that any Withdrawal and/or Inactivity commission does not count as an act of an active account.
70Trades clients can open an account with only an initial deposit of $200 and start trading immediately. Accounts at 70Trades are denominated in US Dollars, so all trading deposits are going to be converted into the base currency of the client’s trading account (US Dollars).
The margin liquidation happens when a trader’s account equity has reached zero and as a result, all of his positions are closed automatically. In this way, 70Trades aims to protect the client’s trading account from ever reaching a negative balance and thus being liable for an amount exceeding the client’s deposit.
Hedge Newest Position
- The Hedge Newest Position (“HNP”) is an exposure protection feature that is provided by the Platform. HNP may be activated and/or deactivated at any time by contacting the Company here.
- HNP applies only after all First Protected Positions are used.
- HNP opens a fully hedged position in the opposite direction in an equal amount to the last opened position when the account equity falls below the used margin required for each open position and will continue to apply until all open positions are hedged.
- HNP will be triggered as close to the used margin, except in circumstances where the market moves too fast.
- HNP will function within market hours and will not be triggered if:
- deactivated by a client;
- hedging the newest position will increase the exposure; and/or
- there is insufficient equity to cover the spread of the newly hedged position.
- Trading accounts can be used in parallel with HNP and margin can be topped up.
- Hedged positions may be transferred to the next trading date and are subject to the applicable rollover and/or any other fees.
- HNP is compatible with any other trading benefits and offers available from time to time by the Company.
Did you know?
The Forex trading market is all about currencies and the most commonly traded ones are USD (also known as U.S. Dollar), JPY (also known as the Japanese Yen), EUR (also known as the Euro), GPB (also known as the British Pound), CAD (also known as the Canadian Dollar), AUD (also known as the Australian Dollar), and CHF (also known as the Swiss Franc).